Elixinol Wellness Limited (EXL) Earnings Call Transcript & Summary

Good afternoon, everybody, and welcome to the General Meeting of Elixinol Wellness Limited. My name is Dave Fenlon, the Chair of Elixinol and the Chair of today's meeting. I would like to start today's meeting by acknowledging and paying respect to the traditional custodians of the land wherever those participating in this meeting are located. This meeting is being held virtually, and shareholders will be able to participate, ask questions and cast direct votes at the appropriate time whilst the meeting is in progress. As the time is now confirmed at post 12 p.m. and the company has complied with the relevant requirements for convening this meeting and a quorum is present, I formally declare the meeting open. I am joined today in the room with my fellow Board directors Natalie Butler, Executive Director; and Pauline Gately, Non-Exec Director. Welcome, Natalie. Welcome, Pauline. Also present is Melanie Leydin, Company Secretary. The Notice of the Meeting has been given in accordance with the company's constitution, and copies of the notice are available on the company's website. The share registry's online voting site and on the ASX market announcements platform. Unless there are any objections, I will take the Notice of Meeting and explanatory statement as read. As for the format of today's meeting, our Company Secretary will shortly explain the meeting participation progress -- process. We will then address the formal business of today's agenda. And then this will be followed by a Q&A session on the formal items of business, following which shareholders will be provided an extra 30 seconds to vote on the resolutions. I will now hand over to Melanie, our Company Secretary, to outline the meeting participation process.

Thank you, David. Shareholders will be able to comment and ask questions and cast votes at the appropriate time for each item of business. Visitors are reminded that whilst we welcome you at this meeting, it is a shareholders' meeting, and you may not comment or ask questions. We may experience some time lag, and this may cause some delay in your text questions or comments coming to our attention. So we encourage you to lodge them early. [Operator Instructions] Regarding voting on today's resolutions, all shareholders, proxy holders and authorized corporate representatives who are entitled to vote will be able to do so via the webinar poll. It is important to note that if you have lodged a proxy prior to the meeting, you do not need to vote again at today's meeting unless you wish to change your proxy instructions. If you have not yet voted prior to the meeting, please cast your vote on each of the resolutions when the poll is open. For proxy holders, you will have a summary of proxy vote, which detail the voting instructions, if any, for each of the items of business. By completing the voting by the webinar poll, when instructed to vote in a particular manner, you would deem to have voted in accordance with those instructions. Where the Chair has been appointed proxy on behalf of the shareholder, David Fenlon, as Chair of the Meeting, intends to be voting these in favor of all of the resolutions. With regards to the poll procedure, we will open voting shortly so that your polls can be cast during the formal business section of the meeting. When a poll is declared open, a poll window will appear. To vote simply select the direction in which you would like to cast your vote and the selected option will be marked. To submit your votes, simply click on the submit button, and you'll have the ability to change your vote up until the time that voting is closed. Thanks, David.

Thank you, Melanie. We'll now turn to the formal items of business. Before opening the poll, I wish to remind shareholders that the poll will remain open for an additional 30 seconds after we have considered all resolutions. I now formally declare the poll open. I now refer to resolution 1, which relates to the issue of shares and options to participants of the company's share purchase plan announced on the 3rd of October 2024. The terms of the SPP are set out on Page 9 of the Notice of the Meeting. The full resolution is displayed on your screen, along with the proxy votes received for this resolution. I now move that shareholders consider and, if thought fit, pass the ordinary resolution. I now refer to resolution 2, which relates to the ratification of the prior issue of shares and options to participants of the company's placement announced on the 3rd of October 2024. The terms of the placement are set out on Page 11 of the Notice of Meeting. The full resolution is displayed on your screen along with the proxy votes received for this resolution. I move that shareholders consider and, if thought fit, pass the ordinary resolution. I now move and refer to resolution 3, which relates to the issue of shares as part of the consideration to the seller under the Healthy Chef Business Sale Agreement. The terms of the agreement are outlined on Page 12 of the Notice of Meeting. The full resolution is displayed on your screen, along with the proxy votes received for this resolution. I move that shareholders consider and, if thought fit, pass the ordinary resolution. I now refer to resolution 4, which relates to the proposed consolidation of the company's shares of every 8 existing share into 1 share. The terms of the proposed consolidation are outlined on Page 14 of the Notice of Meeting. The full resolution is displayed on your screen, along with the proxy votes received to this resolution. I move that shareholders consider and, if thought fit, pass the ordinary resolution. We will now move to the shareholders' questions on the formal items of business.

Thanks, David. We don't have any questions that have come through the Q&A box nor do we any using the audio facility. So you may proceed.

As there have been no questions, that concludes the Q&A session and the formal part of this meeting. We will now provide shareholders with an additional minute for polling voting to be completed. [Voting]

Thank you. As the additional time is now up, and there have been no requests for additional time, I now declare the poll closed. Once the poll results have been processed, we will announce the results later today on the ASX market announcements platform. This does conclude the formal business part of our meeting. And since the company has not received notice of any other business, I declare the meeting closed. After the votes have been counted and the results of the poll will be released to the ASX later today. May I thank you for your attendance and your continued support and wish you a good afternoon. Thank you.

Thank you, everyone. I will now close the webinar.